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Schedule Your Free Consulation06
Mar
Decanting: A Powerful Tool for Disgruntled Trust Beneficiaries
“I’m the beneficiary of several trusts and I would love to be able to combine them into a single trust. ” “The trustee of my trust and I are not getting along. We’d like to go our separate ways, but the trust doesn’t provide enough flexibility in appointing a new trustee. ” “The i...
View MoreCategory: Trusts
06
Mar
Basics of Social Security Retirement Benefits
Social Security provides a foundation for long-term financial support for almost every American. Most of us will depend on Social Security to live on during our later years. These years cost money, and if we are not working during our later years, then we can count on Social Secu...
View MoreCategory: Estate Planning
06
Mar
New IRS “Clawback” Regulations Have Limited Applicability to Gift Transactions
The Tax Cut and Jobs Act of 2017 (TCJA) doubled the exemption amount available during lifetime or at death from $5 million to $10 million, inflation adjusted, until January 1, 2026. The 2022 exemption amount is $12. 06 million and will decline under current law, subject to further...
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Mar
When Forgetfulness is a Problem
Head, shoulders, knees, and toes. We learned those body parts as youngsters as we sang along to the song. As we age, we often find that our head, shoulders, knees, and toes don't quite work like they used to. While these physical ailments can be a sobering reminder that we...
View MoreCategories: Elder Law Estate Planning Guardianships Legal Advice
06
Mar
New Federal Transfer Tax Rules for 2022
The Internal Revenue Service has announced the annual inflation adjustments for the 2022 tax year: 2022 Gift and Estate Tax Exclusion $12,060,000 GST Tax Exemption $12,060,000 Gift Tax Annual Exclusion $16,000 Annual Exclusion for Gifts to Noncitizen Spouse $164,000 Federal appli...
View MoreCategory: Taxation
06
Mar
Revised Limited Liability Company Act
When dealing with the death of a loved one, the amount of information to be processed and documents to be sorted through might seem overwhelming. Faced with unfamiliar concepts, terminology, and deadlines along with one’s own grief, the trust and probate administration process ca...
View MoreCategories: Business Planning Estate Planning Taxation
06
Mar
Three’s a Crowd, and Two Can Be Too: The Pitfalls of Joint Property Ownership (Part 2 of 2)
In Part 1 of this two-part series, we discussed a few of the ways that joint ownership of assets can complicate an estate plan by unintentionally changing the manner in which assets are distributed after someone dies. Part 2 of this series will examine some additional issues tha...
View MoreCategory: Estate Planning
06
Mar
Three’s a Crowd, and Two Can Be Too: The Pitfalls of Joint Property Ownership (Part 1 of 2)
As with any finely tuned machine, a well-maintained estate plan requires a thorough understanding of all its component parts to ensure that it functions efficiently. While the core documents that make up your estate plan might vary depending on the complexity of your wealth and...
View MoreCategory: Estate Planning
06
Mar
The Shivers
One of my children’s favorite stories is The Shivers from Arnold Lobel’s Frog and Toad anthology. It begins as many good stories do—on a dark and stormy night. Frog and Toad sit down with a pot of tea and Frog proceeds to tell Toad a scary story, repeatedly asking, “Don’t you li...
View MoreCategory: Estate Planning
25
Mar
Understanding Estate Tax Laws and Proposed Changes
We spoke with Dave Hunt, Founder and Wealth Manager at Milestone Wealth, about current estate tax laws and changes that may be on the horizon! Watch the YouTube video below to find out more! Watch Now! ...
View MoreCategories: Advisors Estate Planning Events Firm Taxation
